Industry Analysis & Industry Trends
The Iron Ore Mining industry in China has experienced drastic changes in the past five years. The slowdown in China's economy, and the world economy as a whole, resulted in significant declines in iron ore demand and product price in 2009. Despite a significant increase in the volume of imported iron ore, the import value decreased by 14.9% to $56.2 billion in 2009, accounting for 50.2% of domestic demand.
With the Chinese and global economies recovering in 2010, however, iron ore demand and price rose sharply. Industry revenue rebounded strongly, by 54.2% to $85.9 billion, due to surging domestic demand and iron ore price. Domestic iron ore output grew 21.7% in 2010 to 1.07 billion tons.... purchase to read more
Industry Report - Industry Key Buyers Chapter
The top four players combined are expected to account for less than 5% of industry revenue in 2011, indicating that this industry is subject to a low industry concentration level. Because the development of the industry's enterprises is based on mineral resources, the locations of which are fixed and it is difficult for firms to expand their business scale. This industry is characterized by a large number of small private miners whose operations are usually confined to local areas.
Domestic iron ore reserves are limited, and the ore grades of domestic mines are quite low compared with foreign mines, especially mines in Brazil and Australia. Therefore domestic companies do not have the product advantages to expand their market share... purchase to read more